MI > Tuscarora Twp > Waterway Inn
Tuscarora Twp, MI 49749,6100 M-68
Tuscarora Twp, MI 49749,6100 M-68
Tuscarora Twp, MI 49749,6100 M-68
Tuscarora Twp, MI 49749,6100 M-68
Tuscarora Twp, MI 49749,6100 M-68
Tuscarora Twp, MI 49749,6100 M-68
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Luke Boyea

Luke Boyea

+1(231) 818-9328
$ 990,000
Est. payment | /mo

2 Acres Lot

Save
$ 990,000
Est. payment | /mo
Save

2 Acres Lot

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Waterway Inn

MLS Listing ID 78080055114

Originating Board Aspire North REALTORS®

Year Built 1993

Lot Size 2.000 Acres

Acres 2.0

Lot Dimensions Irregular

Property Description

Exceptional opportunity to own the Waterway Innâ€"Indian River’s top-rated lodging facility and a thriving, fully renovated four-season business in the heart of Northern Michigan’s Inland Waterway. Sitting on nearly 2 acres of commercial-zoned land just 300 feet off I-75, this turnkey property offers significant growth potential with room for expansion. Originally purchased as the Coach House Motel in 2019, the owners have invested over $400,000 in improvements, elevating the property’s reputation to a 4.6-star Google rating and earning the #1 spot on TripAdvisor for lodging in Indian River. The Inn features 11 fully updated rooms, six income-producing mobile homes, and a spacious 3-bedroom, 1-bath owner’s quarters. A profitable public drop-off laundry service adds an additional revenue stream. Every room and mobile home has been renovated with new beds, linens, Roku TVs, high-speed internet, and a modern reservation system that seamlessly connects to major booking platforms. Centrally located, the Waterway Inn is the only lodging facility within walking distance to downtown Indian River, Burt Lake State Park, two boat launches, and direct access to the North Central State Trail. Its prime location off Exit 310 also captures a steady flow of walk-in traffic. The Inn benefits from repeat business, exclusive partnerships with local golf courses, fishing charters, and outdoor adventure companies, and is frequently at full capacity during peak seasons and even throughout the off-season. With a strong 16% cap rate, this property offers excellent cash flow and investment potential. Indian River is a rapidly growing destination with over $6 million in recent commercial investment, limited commercial-zoned land, and easy access to Petoskey, Harbor Springs, Bay Harbor, and Mackinaw City. Offered turn-key, this sale includes the real estate, business, equipment, furnishings, and detailed operational recordsâ€"ready for new ownership

Location

State MI

County Cheboygan

Area Tuscarora Twp

Zoning Commercial

Interior

Hot Water Other

Heating Forced Air

Fireplace no

Heat Source Electric, Natural Gas

Exterior

Porch Deck

Garage no

Building

Foundation Slab

Sewer Public Sewer (Sewer-Sanitary)

Water Community

Level or Stories 2 Story

Structure Type Wood

Schools

School District Inland Lakes

Others

Pets Allowed Yes

Tax ID 16102440057802

Ownership Corporate/Relocation

Acceptable Financing Cash, Trade/Exchange

Listing Terms Cash, Trade/Exchange

Financing Cash,Trade/Exchange

Realcomp MLS
©2025 Realcomp II Ltd. Shareholders
Listed by Kenneth C Weaver of Berkshire Hathaway Homeservices Michigan - TC

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agent
Luke Boyea

Agent | License ID: 404566

+1(231) 818-9328

164 Indusco Ct., Troy, MI, 48083

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